Consumer Behaviour is changing – Video (Youtube & BVOD)
As the coronavirus (COVID-19) continues to disrupt industries and businesses around the world, mapping these consumer changes helps to provide a better understanding of how to provide value and pivot your marketing efforts. We have seen many reports carried out over these past few weeks from a number of partners and we have found patterns and insights from them invaluable to identify threats and opportunities within each of our client’s industries. Enabling us to help guide our clients through these murky and turbulent waters.
There has already been an increase in engagement across BVOD services. People are shifting their behaviours and digital media, specifically across BVOD, (even within categories from Live Sport to Entertainment etc) mobile and social is also seeing increased scale. This is an opportunity for brands to capitalise on with Video.
Growth with Youtube video consumption is happening globally.
For example the US is seeing a 10X surge in youtube watchtime within one month (in March). People are turning to online video to adapt, cope and connect, leading to high popularity of certain content topics usage is for YOY:
- 52% increase for study material and online learning
- 49% increase for food and cooking content
- 38% increase for content to help relieve stress and provide coping techniques
- 57% increase avg. at home daily workouts and in home fitness consumption
Over 6M Australians are consuming BVOD weekly
Total BVOD Market reported 996M minutes, +13% Week on Week, +49% Year on Year (WC 29/03/2020 – Nielsen Voz’s early data). Below are some of the Key channels and their growth statistics:
- 7Plus Growth:
- +156% growth in Unique Devices since Jan
- +52% increase in 7Plus member registrations compared to Feb
- 9Now Growth:
- Recorded their biggest March days on record released in the first week of April and are predicting further scale and volume.
- The weekend of 4 April, sport was up 58% Year on Year. 70% Week on Week increase in viewership for news consumption.
- SBS OnDemand Growth:
- +6% Year on Year to be 1.70Mill monthly active users in Mar
- +30% Year on Year to be 7.66Mill of total registered users in Mar
- 10Play Growth:
- Viewership is up 6% Week on Week.
- Live streaming is up +14% Week on Week. +56% Year on Year.
Online marketing and digital technologies are extremely measurable, with businesses able to gauge return on investment in real-time across digital media channels. That is why most Marketers are keen to make the most of this unprecedented opportunity with the Video Media consumption. The clock is ticking to make the most of these consumer insights and for your brand to provide assistance, assurance and value to consumers in this isolating time. Customers are more likely to stick with the trusted advisor coming out of this crisis.
From Bench: Channel-Trends-Insights-April-2020-2 by Bench, April 2020. Based on Australia media.
From Google: Youtube trends in current environment from YouTube Data, Global, January 1 – March 18, 2020.
From AdNews: The clock is ticking on the BVOD market by James Young, general manager, Telaria, 23 March 2020. An opinion piece on Adnews online